Samsung Electronics Vice Chairman Lee Jay-yong is greeted by officials with Semiconductor Research Development as he toured the research institute, his first inspection of the new business year. (Photo: Samsung Electronics)
Samsung Electronics Vice Chairman Lee Jay-yong toured the Semiconductor Research Development in Hwaseong, Gyeonggi-Do, on Jan. 2, his first inspection tour of the new business year.
As he received a briefing on the development of a 3-nanometer process technology, Vice Chairman Lee said, “Past performance guarantees future success.”
“History does not wait, (we have to) make history.” His remarks may be construed as his will to realize a vision of being the global No. 1 system semiconductor maker on top of the global memory maker reputation, boasting an unmatched competitive edge with rivals.
Vice Chairman Lee unveiled a vision of being the global No. 1 maker in the system semiconductor sector for mobile AP, image sensors and foundries by 2030. Samsung Electronics has been entering offensive mode with massive investment plans.
Samsung Electronics, fiercely chasing TSMC of Taiwan, the juggernaut in the global foundry sector, has been narrowing the gap with the development of advanced technology, including a 3-nanometer process technology, a first among the global foundry field.
Samsung Electronics is investing in and nurturing growth engines in a full-fledged manner, such as system semiconductors and next-generation displays, as well as steps to cope with global uncertainties.
The global titan is also entering an “emergency management mode,” and building a corporate culture of promoting shared growth with society.
Reading between the lines of Samsung Electronics Vice Chairman Lee Jay-yong’s messages, these may be summed up as Samsung’s overall management strategies and direction for the year 2020.
Vice Chairman Lee has so far turned to field management, in which he has made inspection tours on operations in Korea and abroad. He has focused on global networking, through which he has met with global leaders to address uncertainties in Korea and abroad.
He has come up with core messages such as plans to invest in growth engines and ways to promote social contribution.
Last year, Vice Chairman Lee met top-level government and global business leaders, including Crown Prince Mohammad bin Salman bin Abdulaziz Al Saud of Saudi Arabia and Vietnamese Prime Minister Nguyen Xuan Phuc, to explore diverse ways of promoting collaboration in a wide range of areas such as AIU and 5G telecom.
Vice Chairman Lee is expected to continue the company’s emergency management mode by mobilizing capabilities available to him to cope with uncertainties predicted to linger this year, such as U.S.-Chinese trade conflicts, Japan’s export curbs on Korea and the slowing of the Chinese economy.
Last June, Samsung went into an emergency management mode, reflecting a host of uncertainties.
As Japan launched export curbs on Korea in July, Vice Chairman Lee hurriedly left for Tokyo to look at the situation there and take stock of core semiconductor and display material supplies.
At that time, he ordered the establishment of contingency plans against Japan’s export curbs on Korea and worsening global business conditions.
One of Samsung Electronics’ core tasks for this year is achieving tangible outcomes in the company’s plan to nurture system semiconductors and next-generation displays into growth engines.
Early last year, Lee revealed a vision to rise to the global No. 1 position, not only in the memory chip sector but also non-memory chip segment by 2030.
Last April, to this end, Vice Chairman Lee also announced a massive investment plan calling for pouring 133 trillion won by 2030 and hiring 15,000 specialized manpower forces.
Samsung Electronics’ focus on narrowing gaps with global leaders in areas such as image sensor, foundry, mobile AP and vehicle semiconductors in 2019 continue to be pushed this year.
As he toured a display operation in Asan, Chungcheongnam-do, last August, Vice Chairman Lee demanded that the LCD panel business, struggling with difficulties, not be forgone and new technology ought to be developed to be at the forefront of the sector.
Last October, Samsung Display announced a massive investment plan to plunk down to 13.1 trillion won in the next-generation Quantum Dot (QD) display.
Stressing a challenging spirit in the 5G telecom market, Vice Chairman Lee met with global top leaders such as Saudi Crown Prince Mohammad bin Salman bin Abdulaziz Al Saud and CEO Timotheus Hottges of Deutsche Telekom, Europe’s biggest telecommunications company, to discuss ways of promoting collaboration in sectors such as 5G telecom and ICT.
Samsung is also pursuing the establishment of a corporate culture of promoting shared growth with society and its cooperative companies.